Origination

The company posted net income of under $301 million in the third quarter, including a $93 million positive mortgage servicing mark.

As the leading player in a specialized niche within the consolidating mortgage market, Finance of America is being watched closely.

A significant fallback in rates brought some borrowers back to the table but cooled interest in adjustable-rate loans, which had surged throughout October, the Mortgage Bankers Association said.

The lender and servicer is still planning for another $120 million in annualized expense reductions in the next few quarters.

As U.S. credit card balances continue to march above $1 trillion, the number of newly delinquent credit card users now exceeds the pre-pandemic average and millennials and those with student or auto loans are driving the increase in past-due payments, the New York Fed said.

The Federal Housing Finance Agency said in a long-awaited report that it will set up new guardrails for the Federal Home Loan Banks to ensure that the institutions are serving a housing-centric mission.

The coworking giant's spiral hit landlords along the way as it renegotiated and sought to exit many leases.

But the Fannie Mae Home Purchase Sentiment Index still rose in October versus both September and the prior year.

The retention rate among servicers is at a 17-year low the latest Intercontinental Exchange Mortgage Monitor report found.

Bigger metro areas Austin, Phoenix and Atlanta each added at least 16,000 units over the past year, increasing their inventories by as much as 5.6%. Rents consequently fell in each market.